Through the years, Bitcoin experienced waves of attention. Others followed. Names like Dogecoin entered. The new currency is based on Nakamoto’s work. It offers unique advantages like fast transactions and anonymous payments. Dogecoin and the Dogecoin value quickly became another contender in the world of atlcoins.
The early months of 2016 saw a huge increase in Dogecoin’s price. Since its release, Dogecoin was already a top choice. The new currency reached out to those who want to try out alternative payments. It helped digital payments spread.
The Dogecoin value continues to increase. It is stable most of the time, unlike altcoins. These values show stability in terms of market capitalization and value. However, there are a few times where it experienced large ups and downs.
Dogecoin started as a joke. The famous meme known as Shiba Inu represents the brand. Released to the public in 2013, Dogecoin developed quickly. As of January 2014, the online community reached a capitalization of over USD 60 million.
Dogecoin has a fast coin production schedule. This is another trait that makes it attractive. Millions of coins are mined. The likely amount of coins mined in Dogecoin mining every year is over 5 billion. Some say that it helps with the Dogecoin value. As more users mine coins, the price increases.
Many consider Dogecoin as the second best option to Bitcoin. The system was designed to hold only 100 billion coins at first. But due to popular demand, this increased to almost an infinite amount. The price also increases as more users mine coins.
Value increase and decrease
There were times where the prices lost stability. In 2013, Dogecoin increased in price 300% in only 72 hours. Three days later, Dogecoin went down 80%. After this, it has enjoyed huge market capitalization. It was worth over $50 million for the first time since.
The reason for the Dogecoin value price increase and decrease are still unknown. Some say that Dogecoin is popular in China. Since China’s stock markets are going through tough times, investors are moving to new forms of currency. This is where names like Dogecoin and Bitcoin come in.
Others claim that investors helped the price of Dogecoin go up. This is possible through buying and selling. There are still plenty of users out there looking to take advantage of Dogecoin.
Dogecoin continues its life. If users look for stability, this is the way to go. Those who want to avoid huge price fluctuations should check out the Dogecoin value.